InvestorQ : What is a post office time deposit account?
Aishwarya Nimbalkar made post

What is a post office time deposit account?

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1 year ago
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A post office time deposit account (POTD, or TD as it is called) is one of the many post-office savings schemes operated by the India Post. It is the post office’s alternative to fixed deposits, as offered by banks.

The post office time deposit is recommended to those individuals who are ultra conservative and want the returns on their investment to be assured while keeping the principal amount absolutely safe.

One can open a post office time deposit account at any post office with a minimum of Rs 200.

Additionally, the TD enjoys tax benefits up to Rs 1,50,000 for five years under Section 80C of the Income Tax Act, 1961.

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